The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-01-28
HAZARDOUS LEGISLATION.
Can Political Commission Accomplish
that Which Capital Has Failed in Doing?

Can Political Commission Accomplish
that which Capital Has Failed in Doing9
New York Mail and express.
It is already apparent that the great railroad
interest of the country propose to give1ha BUSH
ness community chance to choose between the
dynasty of King Stork and King Log, TO discover
whether a commission, owing its existence to
political clamor and influence, can bring about
reconciliation OF inharmonious elements which
capital has wasted millions and millions to ac-
complish. The interstate-commerce bill
has passed both houses of Congress, and will
soon be signed by the President. Its provisions
are mandatory aud yet empiric vague and I'M
definite, and construable IN way to chill the
industries of the country, block the wheels of
trade and dam the avenues of commerce. The
railroads propose to obey the law. The most
able counsel attainable are now examining It,
that they may advise the companies OF the
duties it imposes upon them.
Instead of defving the authority OF the Con-
gress of the United States, railway managerc
seem to welcome the opportunity OF demon.
stratng how great an injurT may be done by
demagogical interference with chartered inter-
ests, and to welcome the opportunity of prov
ing that the railroads have found their greatest
profit in multiplying the number of their
patrons, developing the country and doing the
largest amount of busidess at the least cost.
taking the initiative in reducing rates and build
ing extensions in the anticipation OF future
profit
The bill has lot yet been signed, but the Gen.
trail Traffic Association, built up with almost
infinite labor. is preparing to dissolve. and
dozen pools are already making ready to go out
of existence More than one of them will have
closed it's books weeks in advance of the day on
which its existence is declared illegal The
R00 Viii hfs aouss $ ss
though its authority vauishes.
What will the great companies do2 Well, the
Pennsylvania has notified its largest shippers
that its authority to name r ates is uncertain;
that the act may vitiate contracts, aud that, while
10 rinO en- fop m tofv
dustries on its line it is as yet unable TO say
what it can do. In plain English, the great iron
| manufacturers have taken contracts to fur
nish thousands of tons of iron and steel rails
upon agreed rate of freight They have
been told that this rate must be changed If the
| law compels them to stop at siding to take on
| a cook-stove at the same rate. Passes have
been issued in the course of business, and to
congressman. as WELL All those will be called
| in. and rightly. This is one of the merits of tho
BILL and provision at which no one will kick as
hard as those who voted for it, All freight
Will seek the water route as soon as
possible We shall take stride backwards. aud
the lake and the river boats. which pay no
| taxes will take any rate they choose. To-day
the Buffalo ship-yards full, and vessel prop
erty is worth 25 per cent more than it was three
months ago. But railroad property will not be
seriously injured; the people will suffer. Local
be called in to cure the paralysis of the through
| traffic Business will be embarrassed but
! the railroads will probably earn more. The
cost of railroad transportation In this country Is
lower than anywhere else in the world, and that
| very fact has encouraged foreign investment in
the stocks of roads which could return profit
after accommodating the public on such terms
| The course OF the managers is wise one; they
welcome intelligent supervision and control, and
they see how easy 1t ls to demonstrate the crud-
| ity, and indecisiveness, and uncertainty of the
| act under which they must do business until q
new Congress repairs the errors of the present